I'm running Komplete 5 by Native Instruments on a brand new Quad Core laptop that was built and tweaked by a pro audio company that specializes in configuring machines for musicians. The Win XP Professional system runs very well.
After installing Adobe CS3 Suite, I noticed that the only program that won't start properly now is Premier Pro. When try to start Premier Pro 3.0, the splash screen opens and I can see the Komplete 5 software programs (Kontakt 3, Massive, Pro 53...) trying to load their .dll files. After a few seconds, Premier Pro quits and gives me a Runtime Error.
I've searched around a little bit and can't even find the .dll's for Komplete 5 to try the suggested experiment of moving them away out of their folder and then to bring them back after (if) I get Premier Pro to start as I have indexing turned off on the drives (which I "think" is to keep the system speedy?) so searching manually has not been easy so far. I looked in the vst folder and they are not there, unless I am missing something.
You likely have an issue with one, or more, of the NI .dll's. There have been several issues with these. Do a search of this forum (go back to get all Premiere versions) for "Native Instruments." There are serveral threads on moving the .dll's, so that Premiere doesn't try to load them. Premiere will attempt to load every registered VST/.dll, as you have found. NI's do cause PP to hang.